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PRESENTATION Sequencing a Property’s Path Towards Vacancy Presented by the Institute for Housing Studies at NNIP Partnership October.

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Presentation on theme: "PRESENTATION Sequencing a Property’s Path Towards Vacancy Presented by the Institute for Housing Studies at NNIP Partnership October."— Presentation transcript:

1 PRESENTATION Sequencing a Property’s Path Towards Vacancy Presented by the Institute for Housing Studies at NNIP Partnership October 23, 2014

2 2 Post-crisis, addressing the vacant property issue requires quality data and analysis for policy development and implementation. Significant gaps in the availability of data that gets at property status and housing market conditions Data exist to help identify broad market trends for policy development (USPS/HUD) Limited property-level data necessary for policy implementation (???) Need for Better Data to Understand Vacancy in

3 3 Presentation focuses on development of a data set that utilizes parcel- level administrative data to better understand the circumstances and last-known entity that may be accountable for a significantly blighted vacant property. Sequencing Data to Learn More About Vacant

4 4 Data Sources from the IHS Data Clearinghouse Cook County Assessor – Data on all parcels in the County Cook County Recorder of Deeds – Sales, mortgages, foreclosure auctions Cook County Clerk of the Court – Foreclosure filing activity Additional Administrative Data Used Complaints of open or abandoned properties in the City of Chicago (311 Data) Data

5 5 Selection Criteria for Analysis More than one 311 complaint within two years Most recent 311 complaint was in the preceding last year No subsequent activity after the 311 complaint Defining a Blighted Vacant

6 6 Sequencing Method Determining Chain of Activity on a Parcel Later Identified as Blighted and Repeatedly Vacant

7 7 Blighted vacant properties follow patterns of concentrated foreclosure

8 Distribution of Last Known Activity by Neighborhood Foreclosure Distress Level 8 Understanding A Property’s Path to

9 Distribution of Last Known Activity by Neighborhood Foreclosure Distress Level 9 Understanding A Property’s Path to

10 All ActivityMortgageForeclosure Foreclosure AuctionSale Low Foreclosure Moderate Foreclosure High Foreclosure Understanding A Property’s Path to Blight Average Number of Years Since Last Known Activity by Neighborhood Foreclosure Distress Level

11 All ActivityMortgageForeclosure Foreclosure AuctionSale Low Foreclosure Moderate Foreclosure High Foreclosure Understanding A Property’s Path to Blight Average Number of Years Since Last Known Activity by Neighborhood Foreclosure Distress Level

12 All ActivityMortgageForeclosure Foreclosure AuctionSale Low Foreclosure Moderate Foreclosure High Foreclosure Understanding A Property’s Path to Blight Average Number of Years Since Last Known Activity by Neighborhood Foreclosure Distress Level

13 13 Blighted vacant properties are concentrated in distressed neighborhoods. Regardless of market conditions, a foreclosure filing is most often the last-known activity for blighted vacant properties. However, longer lag times between the non-foreclosure activity and the 311 call in distressed neighborhoods raise concerns about oversight and abandonment. Key Findings of the

14 14 Where a foreclosure filing or a mortgage is the last known activity, analysis can help identify post-foreclosure or pre-foreclosure walkaways. Where the last known activity was a sale, data can help identify accountable entity and ownership status. How to Apply this

15 15 Further analysis to determine the characteristics of property sales and ownership associated with blighted vacant properties. Utilizing additional data like building violations or liens to better understand a property’s current status and help identify potential policy levers. Codifying analysis in the IHS Data Clearinghouse to allow for quarterly updates of data set. What’s


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